BusinessEconomyFEB 19 EDITION

ATTRACTING FOREIGN DIRECT INVESTMENT

Foreign Investment Promotion And Protection Agreement  (FIPPA)

  • Nigeria-Canada Investment  Summit held successfully.
  • Canadian  investors request the Federal Government to address issue of FIPPA ratification.
  • FIPPA  key factor seeks to appropriate inflow of investments from  Canada to  Nigeria.

CANADIAN INVESTMENT CONSORTIUM

  • Stat ratification of FIPPA still awaited.
  • An MoU was signed between Consortium of NASD OTC Securities Exchange (NASD Plc), Canadian Stock  Exchange members and venture capital providers with Spingfoundation Infrastructure Limited to promote investments.

Areas of Interest:

  • Gold supply value chain.
  • ISO certified  standard geochemical laboratory  services.
  • One billion dollar Nigerian-Canada Solid Minerals Investment Fund, for infrastructure plant and  equipment loans to valid operators in the solid minerals  sector in Nigeria.

INVENTORIZATION AND ASSESSMENT

  • Carried out on carbonate rock resources in the country.
  • A  collaboration with the Cement Technology Institute  (CTI).
  • Aimed at boosting the resources base of the country to support  local industry and conserve foreign  exchange.
  • Carbonate rock  found to occur in 14 States.
  • Limestone’s resource base increased from2.3Billion tones  to 10.6 billion tones.
  • Estimated 4.8 billion tones of marble was found to occur in  Nasarawa, Ondo, Edo, oyo, Kogi, Kwara, Niger, Kebbi States and the FCT.
  • Magnesite noted in one location and of very small resource base of 500k tones.
  • The exercise generated data on resource size and geochemical characteristics, reports and  interactive map.

INVESTMENT PROMOTION AND ROADSHOWS

  • Ministry’s participation in some major international mining conferences and promotions has been very regular.
  • · Conferences and roadshows attendedinclude :

International

  1. Mining Indaba, South Africa
  2. Australia Down Under
  3. China Mining
Nigeria delegation at the China Mining Conference, 2018
Hon. Bawa Bwari & the Permanent Secretary, Barr Georgina Ekeoma Ehuriah, MON admire some gemstone on display

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